Live pig prices have been continuously decreasing in recent days across various provinces. Currently, prices in northern mountainous provinces like Lang Son, Lai Chau, Dien Bien, Phu Tho, and Hung Yen have fallen to 67,000 VND per kg, a decrease of over 10% compared to June.

In central Vietnam, where pork prices are typically lowest, they have now dropped significantly to 64,000-66,000 VND per kg. In Gia Lai, the price has fallen to 64,000 VND, 1,000 VND lower than the previous day. Similarly, the southern region has also seen adjustments, fluctuating around 66,000-68,000 VND per kg.

Nguyen Hoang Nam, a trader in Dong Nai, attributes this trend to the recovering supply. Last month, he could only procure around 300 pigs, but this month, he has acquired 450. "The increased supply has led to price adjustments to align with supply and demand," he said.

Hoang Anh Gia Lai's pig farm. Photo: Thi Ha

Hoang Anh Gia Lai's pig farm. Photo: Thi Ha

The Southeast Livestock Association also notes that the decrease in pork prices is due to a combination of factors: the resurgence of supply after a period of scarcity, weakened consumer demand, competition from imported pork, and cautious consumer spending following the pandemic.

Data from the Ministry of Agriculture and Rural Development indicates positive signals for the livestock industry in the first six months of the year. The national pig herd has increased by 3.8% compared to the same period last year, with pork output reaching nearly 2.7 million tons, a 5.9% increase. Some localities, before merging, experienced impressive herd growth, such as Gia Lai with a 30% increase, Kon Tum with 20%, and especially Tay Ninh with over 48% due to several large-scale livestock projects commencing operation. This development suggests a strong recovery for the livestock industry after the challenging period caused by the pandemic.

The drop in live pig prices has led to adjustments in retail prices at local markets. At Xom Moi market (Go Vap), pork ribs are now priced at 180,000 VND per kg, spare ribs at 130,000 VND, pork belly at 150,000 VND, and shoulder at 125,000 VND. However, Hanh, a vendor there, reports that purchasing power remains slow despite the 5,000-10,000 VND per kg price reduction compared to last month.

"Retail prices will only truly align with consumers' budgets if live pig prices fall to 60,000 VND per kg," she stated.

Experts suggest that if the supply remains stable and input factors don't fluctuate significantly, live pig prices could maintain a range of 58,000-62,000 VND per kg in the coming period.

Thi Ha